Why DITTO doesn't recommend ULIP | Unit Linked Insurance Plan Vs Mutual Fund + Term Insurance

[@AmitSharma-kd7rj]

I am amazed to see that Ditto is more focused towards educating people.... First time I am witnessing a mediator company is so much customer centric, looking forward to purchase a policy soon from them

[@dittoinsurance]

Thank you so much for the comment :)

[@trnswamy]

Agree that ulip is not a good product from insurance point of view. But once you have adequate insurance cover, you could consider ulip. Also for non salaried individuals, term plan is mostly denied. In such cases ulip makes sense. What do you say?

[@dittoinsurance]

We think the issue with ULIP is that it offers modest protection when it comes to life cover. You’d have to pay annual premiums of 1 lakh to simply avail a death cover of 10 lakhs. This isn’t substantial. However if you have absolutely no access to life cover, then yes, endowment plans and ULIPs make sense

[@Guiding100]

Paid 2000/month with cover of 5000000 what are you're thoughts on this? I was denied term insurance since Im self employed ​@@dittoinsurance

[@gtmsddrtheva]

These guys don't get commissions for ULIPs, hence they don't want to push. New Generation ULIPs aren't a bad option at all, as one of the piece of your investment pie

[@gethacked5979]

I have one ULIP plan which has a monthly premium of 5000rs and give life cover of 33 lakhs and also it has premium waiver and also accidental death benefit and I have it in limited pay for 5 years and maturity of 20 years this is win win situation for me if anything happens to me my family get life cover returns and also after 20 years investment plus returns of investment at market rate and plus if nothing happens to me I will get the investment and returns after 20 years tax free

[@SagarDas-l4e]

​@@gethacked5979can you please share your ulip plan details? Like which ulip plan you chose? What other riders you opted?

[@gethacked5979]

I have one ULIP plan which has a monthly premium of 5000rs and give life cover of 33 lakhs and also it has premium waiver and also accidental death benefit and I have it in limited pay for 5 years and maturity of 20 years this is win win situation for me if anything happens to me my family get life cover returns and also after 20 years investment plus returns of investment at market rate and plus if nothing happens to me I will get the investment and returns after 20 years tax free

[@gullubhaihai]

What about the tax benefits (for premium less than 2.5 lakhs a year), there is no LTCG..

[@himanshi011]

What about the 12.5 percent tax paid on maturity for mutual funds vs tax benefits on ulips?

[@gaurishpai7805]

Exactly. No tax to be paid at maturity

[@BBBlue-c8w]

I've been paying premiums(5k pm) for a ULIP plan for the last two years, the coverage of which is just 7.5L plus a guaranteed return (5k pm for 20 years after 12 years of premium payments). I was financially dumb and my financial advisor advised me on this, I'm unhappy and plan on taking a term insurance. So my question is, should I just surrender the ULIP(will receive about 35k), take a proper term insurance and invest the remaining amount or should I take a lesser covered term insurance without surrendering the ULIP? Both of them together would be a financial burden.

[@dittoinsurance]

If you only recently started to invest in a ULIP it makes sense to either pause/surrender the plan. However we’d suggest speaking to a proper financial advisor before you take a call. Nonetheless a term plan is absolutely crucial. 7.5 lakhs isn’t enough based on most people’s income

[@aaryanganglas]

😂😂😅 mate you're paying 60 k per annum to get a cover of 7.5 lakhs , surrender and pause it right now , you're getting robbed z search for any other policy , I'm sure it would be far better than this , whoever sold you this policy has been successful in fooling you , you can pay 30-35k annually and get a term coverage 2x3 or even 4 times more , depending on your city address and add ons

[@imvk97]

First of all i have term policy of 2crs. Now max life wealth advantage plan is offering Ulip based on Nifty 500 momentum 50 index ,its 10 year CAGR is around 25 per and what we get return is tax free .Can you throw some light on it ,Am I missing any thing ??

[@Vishwa0208]

Yes , these people are biased about term insurance and they're not even talking about the actual benefits of ULIP. ULIP gives you Sec 10(10D) benefit where you get complete profit with 0 Tax, if your annual investment in ULIP is below 2.5lkhs.

[@michaeljoseph4530]

Nifty 500 momentum index doesn't have these 10yr it was launched lately after corona ,mostly it will be the aggregated returns yes it is tax free expense ratio will be different for an index fund this point difference do make a difference in the long run.

[@letsbye]

The Following are the charges levied in a typical ULIP plan: premium allocation charges Mortality Charges Policy admin charge Fund management charge. The returns are not tax free. the money is invested after deducting the premium alloc and mortality charges into MF. there is a GST to be paid for the premium. Mortality and premium allocation charges are returned after end of policy term, minus GST however, partial withdrawal invalidates that option and you do not get these back. my personal view: take your money and run away from this one.

[@ObiWanakin923]

Is term insurance worth it in case of a working couple?

[@dittoinsurance]

In most cases yes. If your current lifestyle dictates that both your income helps the household, then it’s absolutely necessary to consider buying a term plan

[@atselvakumar]

Super.. 🎉

[@dittoinsurance]

Thank you so much :)

[@frankodas1984]

Hdfc life smart protect plan offers 100x coverage. I am 39 year old and has taken this product with a premium of 5.4k per month for 12 years. My SA is 1.5cr including riders and coverage till my age @75. How about this product? Hope you will comment...

[@dittoinsurance]

Are you absolutely certain the cover is 100x your annual premium. From the brochure it seems the sum assured is 10x your annual premium which won’t add up to a cover of 1.5 crores

[@frankodas1984]

Thank you for your prompt response and I am cent percent sure that it's 100x coverage. Pls go through the product brochure.

[@dittoinsurance]

Understood. Let us explain why we are sceptical. If you’re 39 right now and you buy a pure term plan from HDFC Life with a cover of 1.5 Crores until the age of 75. You’ll end up paying annual premiums of roughly 80,000. And if you add up those premiums until you turn 75 then the total payout comes up to 32 lakhs. This is for a pure term plan. However your plan it seems offers the same cover for an annual premium of 64,000 paid over just 12 years which comes up to just 7.77 lakhs. Plus the plan offers maturity benefits. The math here just doesn’t add up! Maybe if you send your policy copy to us we’d be able to comment on the offering

[@frankodas1984]

I have send the policy copy to your what's app number and awaiting your comments. It's 100x coverage and SA is 1.5cr including riders. Pls go through it.

[@gowthamr8642]

Hey, i was thinking to start the same hdfc life smart protect plan from next week. What do you suggest now, is it a good investment to proceed?

[@RolandBurton-i6y]

148 Denesik Parkways

[@shivupatil4108]

Dear sir please reply i will waiting for your most valuable reply. Sir purchase ULIP Maxlife index midcap 150 momentum 50. policy monthly 5000 *2 already paid 90000 rs last 9 month please reply i what to do.

[@Marss-yh8io]

Continue, very good fund, u will make huge money in long term 10+ years

[@HeisRavi]

Because doesn't sell ULIP It's as simple as that

[@hemilgaitonde]

Important aspect he missed Tax benefit on returns which your so called mutual fund doesn't provide.. Thank me later ditto... Just because your maybe your plans are not performing good doesn't mean all ulips are not worth.. Customer have double money in 7-8yrs in different years lol

[@ravithejanalamary3326]

Is it true that no ltcg on ulip

[@Indisociocultural]

Yes​@@ravithejanalamary3326